Future Advance – Letter of Credit – (ALTA 14.2-06, CLTA 111.14.2-06)
Loan policy only. Insures the lack of priority or unenforceability of the lien of the insured mortgage as security for making future advances where the mortgage is secured by a letter of credit. To be issued on commercial transactions only.
14.2-06_Future_Advance_-_Letter_of_Credit_-_02-03-2011[1] ALTA 14.2-06,
CLTA 111.14.2-06